EarningsQ2 2026 Earnings Report
DE:6UP Q2 2026 EPS Results
Actual EPS€0.26
Consensus EPS€0.23
Beat/MissBeat by +€0.02
One Year Ago EPS€0.10
DE:6UP Q2 2026 Revenue Results
Actual Revenue€802.10M
Expected Revenue€752.20M
Beat/MissBeat by +€49.90M
YoY Revenue Growth+10.61%
Earnings Announcement Details
QuarterQ2 2026
Date08/17/2026
TimeBefore Open
Conference CallMonday, August 17, 2026
DE:6UP Upcoming Earnings
Thungela Resources Limited's next earnings date is estimated for March 22, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call reported multiple strong operational and financial outcomes: a large EBITDA and cash-flow uplift, materially higher EPS (partly influenced by a noncash gain), robust net cash and a meaningful interim dividend. These positives were underpinned by improved rail performance, volume growth and a strong Ensham performance. Offsetting headwinds included significant FX translation losses from a stronger rand, production challenges at Zibulo, wider realized discounts due to contract mix, and ongoing market volatility. Management retained conservative guidance and emphasized balance-sheet resilience, rehabilitation funding progress and a cautious view on forward coal-market dynamics. On balance, the operational and financial improvements, liquidity strength and shareholder returns outweigh the noted challenges and one-off impacts.Company Guidance
Strong profitability and EBITDA growth
Adjusted EBITDA increased 91% year-on-year to ZAR 1.3 billion, with net profit rising to ZAR 1.4 billion, reflecting stronger benchmark coal prices, improved export volumes and lower operating costs.
Large EPS improvement and cash generation
Basic earnings per share increased 467% to ZAR 10.95. Headline earnings per share (excluding ~ZAR 1 billion noncash Kleinkopje gain) rose to ZAR 4.80. Adjusted operating free cash flow increased to ZAR 1.9 billion (from ZAR 484 million), an increase of ~293%.
Strong balance sheet and shareholder returns
Net cash of ZAR 6.1 billion at 30 June 2026 and ZAR 3.2 billion of undrawn facilities. Board declared an interim cash dividend of ZAR 5.50 per share (ZAR 773 million), representing ~41% of adjusted operating free cash flow.
Export volumes and sales uplift
Group export saleable production increased 6% to 8.5 million tonnes and export equity sales increased 7% to 8.9 million tonnes. South African export sales were ~7.4 million tonnes and third-party sales contributed 602,000 tonnes.
Ensham (Australia) operational outperformance
Ensham delivered a strong production uplift (production up 37%), improving operating leverage and reducing FOB cost from ZAR 1,904/tonne to ZAR 1,466/tonne (a ~23% improvement). Ensham generated an EBITDA margin of ~16%.
Benchmark price tailwinds and market support
Average Richards Bay benchmark coal price rose ~15% in H1 2026 and Newcastle benchmark increased ~25% in the period, driven by energy-security volatility following Middle East conflict.
Rail performance recovery unlocking value
North Corridor annualized run rate reached 59.9 million tonnes (a 5.5% improvement vs 2025), enabling higher exports without significant Transnet capital investment and supporting additional sales to market.
Safety and ESG progress
Fatality-free for 3.5 years; group total recordable case frequency rate improved to 2.62 from 2.83 (~7.4% improvement). No significant Level 3–5 environmental incidents reported; continued community, education and enterprise development (185 entrepreneurs graduated since 2023).
Disciplined capital allocation and sustaining investments
Sustaining capital expenditure of ZAR 705 million invested to maintain asset reliability; expansionary spend ZAR 104 million; ZAR 100 million contributed to Green Fund and ~ZAR 180 million arranged for Ensham life-of-mine access, reflecting balance between growth, sustainability and returns.
DE:6UP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed